According to the Immowelt portal, rents in almost all major German cities have risen by at least ten percent since 2018. A lack of housing, rising interest rates and the influx of refugees are the price drivers.
Rented apartments in Berlin have risen most in price – by more than a third on average.
In Stuttgart, however, there is almost no change between March 2018 and March 2023. At 11.46 euros, the average asking price is one cent below the price of five years ago.
In twelve out of 14 big cities they are To rent increased by at least ten percent since 2018. This is shown by a five-year comparison of the average asking rents for existing apartments in the largest German cities by the real estate portal Immowelt.
Four cities even recorded an increase in rental rates by at least 20 percent. According to the real estate portal, the reasons for this are the housing shortage, higher financing and building interest rates and the influx of refugees.
Rents have risen the most in Berlin
Apartment seekers in Berlin have to cope with the highest increase. According to data from Immowelt, rents in the capital rose by an average of 34 percent between March 2018 and March 2023. With that climbed Berlin from sixth to second place among the most expensive major German cities.
In Leipzig (+24 percent), Bremen (+21 percent) and Köln (+21 percent) tenants now pay more than a fifth more than five years ago. The most expensive city is still Munich, at 17.42 euros per square meter, where rents have risen eleven percent over the past five years.
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Stuttgart is the exception
An exception among the expensive cities is Stuttgart. There, those looking for an apartment have to existing apartment now pay an average of 11.46 euros per square meter for new rentals. Five years ago it was one cent more at 11.47 euros.
However, according to Immowelt, the development of rental prices in the metropolis has fluctuated greatly in recent years. While asking rents increased by six percent in one year, they then fell by eleven percent again.
Disclaimer: Just like Business Insider, Immowelt belongs to Axel Springer.